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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Friday, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first se ...
Friday, 27 February 09
COASTAL ENERGEN INKS PACT WITH CHINESE FIRM FOR POWER EQUIPMENT
My Digital Fc reported that, Dubai-based Coal and Oil Group, which is setting up a 1,200MW thermal power plant in Tamil Nadu, has tied-up with China ...
Thursday, 26 February 09
GMR INFRA COMPLETES INDONESIAN BUY
Blonnet reported that, GMR Infrastructure Ltd today confirmed the acquisition of an Indonesian coal mining company for a consideration of $80 millio ...
Wednesday, 25 February 09
INDONESIAN GOVERNMENT TO REGULATE MINIMUM COAL SELLING PRICES
The Jakarta Post reported that, To complement the recent enactment of the new mining law, the government is preparing to introduce a coal pricing in ...
Thursday, 19 February 09
GEOTHERMAL ENERGY DOMINATES 10.000 MW POWER PROJECT - ESDM
The role of coal as a source of energy is superseded by geothermal energy to power the second phase of the 10.000 megawatt (MW) power plant project. ...
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- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
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